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SENT SHARP E-MAIL TO TD & GWGO incl TRANSFER AGENTS. Have now got my shares
ANYONE WITH TDAMERITRADE RECEIVED THEIR SHARES YET?
Don't know how that came about. That is what it should read 'Don't know how ..............." I must pay more attention in future.
Sorry Golden08 No know how that duplication of my post came about
THIS NOT FROM ANY DOUBT, as I figured you had some specific
reason for asking the number of O/S, and I am sure you have obviously done your maths, but how have you arrived at that conclusion?
(I am of the opinion that reasoning of the merger is based
on sound viability of the new company.)
THIS NOT FROM ANY DOUBT, as I figured you had some specific
reason for asking the number of O/S, and I am sure you have obviously done your maths, but how have you arrived at that conclusion?
(I am of the opinion that reasoning of the merger is based
on sound viability of the new company.)
And as soon as it reaches the first price at which you can trade them - .0001 how many millions (billions?) do you think will be dumped? UNLESS! UNLESS! There is something DYNAMIC from this company.
And there is nothing like hope - no matter how long the odds.
That is why they sell so many lottery tickets around the world.
TRUE, I hadn't allowed for the R/S so divide the present QEE S/O by 10 = 58.5 million (almost equal to YGC's) Gives a total of around 117.5 million
Thanks for noticing,
(Should give a market cap of just around $220 million) I had not alllowed for YGC's share price being in Canadian dollars. But there could be price change between now and the date of merger.
GOT THE ANSWER NOW - about 643 mllion will be the combined outstanding shares of the new company - NEWCO
These shares want 'locking away' for now. It is going to take MANY very positive PR's, and a huge rise in the POG to move the amount of shares in circulation. Alternatively, or, prederably. in additione to, an announcement of the so far secretive 'other venture' they have talked about and may be engaged in.
Just hope they don't reward our patience again with another forward split while we are waiting for this 'news'. I can't take all this 'good fortune'.
VERY, VERY, BIG. I become more convinced daily. They back words with ACTION! And THAT is what I like.
They have learned from past mistakes, but unfortunately, it is hard going. However, I am certain it will succeed and I am glad that the share price is not running away high through hype.
Soon it will gain more customers besides Mississipi for its 'green fuel' from coal. This cheap fuel will help its gold mining that requires a lot of oil in its own processing.
This way, one gets TWO 'BIG'BANGS FOR THE BUCK.
I honestly believe that this is one of the best 'buys' in the whole market. I have just received an e-mail from the company with a vdeo of a broadcast on Business News TV (BNTV).
It was a superb broadcast - no hype - just a cool headed, no nonsense, presentation.
I like it because it is Canadian so it is all based in a politically stable country. It is working with the US government on its 'fuel' side, and it is already producing, and selling, high grade gold.
The price is right because it is held down by past history. It will overcome this. They are doing things right, and they are keeping up the PR's.
I'm in for the long haul with this one. I will increase my holding as it trends higher, because the trend will be steady, and solid.
Please do NOT read this as hype. I am not concerned whether anyone reading this gets in or not. There will be enough jump in when it become more evident.
SPEKULATER THANKS FOR SHARING YOUR RESPONSE from the company.
They did not answer my e-mail, that is why I said I did not THINK they were answering. I was hoping someone might have had more luck, and info.
Yes, there will be scalpers, and swingers, at work. That is only to be expected. It appears to be steadying now, and will eventually settle.
It does appear a genuine company. It needs patience, and watching. Anyone who buys between $2 and $3 overtime should be OK. Providing the whole market doesn't experience a BIG correction which is a possiblity in the next two months. But this will hit the 'big board' mostly.
This company is in the right market. Just don't chase the price too high - YET! And hang in there if you already hold.
Thanks again for sharing
What is bad here is that this company was supposed to be backed by having some 'top' directors who have served with reputable companies.
Yet, if the share price was rising way beyond its worth sat back and said, or did, nothing.
Then, assuming it has fallen below it worth, have still said, and done, nothing.
All one can assume is that they were wholly, or partly behind the pump and dump and have taken advantage of it, or they are totally irresponsible. In other words, typical, average 'pink sheet' sheisters.
I don't think they have even responded to e-mails.
THIS IS MY RESPONSE FROM TDAMERITRADE:
TD Ameritrade has a policy of not posting shares until we actually receive them. At this time, TD Ameritrade has not received the split shares of GWGO. Regrettably, we are unable to comment on the practices of other brokerage firms.
Since today is the ex-dividend date for the stock split, any purchases made today would not be eligible for the split shares.
We anticipate receiving the split shares on 2/20/2007. Once received, we will post the shares to your account promptly.
COULD YOU EXPLAIN how to read those figures. I keep seeing them posted, from time to time, but can't figure them out. I see down there .0002 shown, but as far as I can see none have traded at .0002 for quite some time.
I assume it is a list of MM's but beyond that, I have no compehension.
Marazul, That's an interesting point, if what you say is correct and that you have already received the F/S shares and you can trade them.
I am with Ameritrade and have not yet received mine. Amertitrade say it should take two to three days and until then
I am not able to trade them. Most appear to be in the same boat.
It would be interesting to see what your broker says if you put that to them - that is, I mean, what you detail in your post to which this refers.
I, and I am sure others, would be interested to see what they say.
Yes, it does appear confusing. In your other post you say you had 'millions'. Presumably you had to sell these at .0001. Had you had them long - how much did you pay when you bought them?
If the MM's bought them from you at .0001 then they must have sold them on at .0001. There must have been many like you that sold out before the F/S at.0001
What can't you figure out? You bought 300,000 and you got your f/s another 300,000 giving you a total of 600,000. Which is as it should be. So, where is your difficulty?
None at Ameritrade yet
The good points are that it is joining with a company that has a higher current share price, more exposure to the gold business (more mines) but which, up to now, is not listed in the US.
Providing gold itself maintains its upward trend, this should do well, Newco will be listed on the Amex.
It could well become the target itself of a merger as the sector consolidates.
As the new shares will be distributed on the basis of QEE 1 for 10; and YGC 1 for 1. This would appear to indicate that the new share price would be around 2.00 as this is the current price of YGC.
YGC do not disclose on their website the number of shares outstanding QEE have approx., 584 million
If you do not see them being worth .0002, then you should NOT really be buying, or suggesting others buy, at .0001 If you do not see the logic in this, then you should hardly be dabbling in the market, never mind GWGO. It is very simple reasoning.
FURTHER E-MAIL FROM QEE which addresses my question
" We have had a very high volume of calls and emails from our recent announcement and apologize for the delay in responding.
Newco intends to trade on both the TSX and AMEX.
Sincerely,
Queenstake Resources Ltd.
(TSX: QRL, AMEX:QEE)
AN E-MAIL FROM QEE
I asked if they would continue to be traded on the US market after the merger. This was their reply
YGC Resources Ltd. (TSX: YGC; F: ZH6) and Queenstake Resources Ltd. (TSX: QRL; AMEX: QEE) are pleased to invite shareholders and interested parties to a webcast to be hosted by YGC's President and CEO Graham C. Dickson to discuss the proposed merger of YGC and Queenstake.
The webcast will be held on Thursday, February 15, 2007 at 11:30 a.m. Eastern time, 9:30 a.m. Mountain time, or 8:30 a.m. Pacific time.
To access the webcast, please visit:
English Event URL: <http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID>=1738880
French Event URL: <http://www.cnw.ca/fr/webcast/viewEvent.cgi?eventID>=1738880
If you have a question you would like to ask Mr. Dickson, please send an email prior to the webcast to: Nicole@ygcr.ca.
YGC Resources Ltd. is focused on the discovery and development of gold ore deposits in North America.
The management of YGC aims to achieve added shareholder value by leveraging its proven ability to take quality projects forward to production. YGC holds a diverse portfolio of gold, silver, zinc and copper properties in the Yukon Territory and British Columbia in Canada and in Arizona in the United States.
Please visit www.ygcr.ca <http://www.ygcr.ca/>.
Queenstake Resources Ltd. is a gold mining and exploration company based in Denver, Colorado.
Its principal asset is the wholly owned Jerritt Canyon gold operations in Nevada, which has produced over 7.5 million ounces of gold from open pit and underground mines since 1981. Current production at the property is from three underground mines.
The Jerritt Canyon District, which comprises 119 square miles (308 square kilometers) of geologically prospective ground controlled by Queenstake, represents one of the largest contiguous exploration properties in Nevada.
In addition, Jerritt Canyon also has one of only three permitted roasting facilities in Nevada. Please visit www.queenstake.com <http://www.queenstake.com/>.
APOLOGIES THAT SHOULD HAVE READ QEE NOT BEMA
" We must never forget that to work out the relationship to the old price it would have been had it remained Bema we will have to divide Newco's shares by a factor of 10........"
The question that comes to mind is - Why would this company give a forward split at this price?
They didn't have to do anything if there was no reason for so doing.
We have their stated reason - to do something for their shareholders by a way of reward for their patience. Very noble and bordering on the altruistic. But, could have substance.
However, this would only be meaningful if they plan to reveal something which would
move the share price up, and at the same time hold most of their investors in. Because, if the 'news' and program was not dynamic, as soon as the price moved a little, shares would be dumped by the millions (billions). So it would soon be back to square one.
So, what other reason could there be for this company to go to the trouble and expense of this forward split?
(1) It could be that they wanted to rake in as much as they could before exiting. In other words, all those extra shares they were issuing were sold 'naked' bringing in 3 billion at .0001 over the past week or so. That amounts to about $300,000. Not really a fortune these days. But then those behind the company could have been holding a lot more, and there could have been more than 3 billion shares issued 'naked'.
However, this would depend on nothing further from the company to move the price higher, and for the pps to remain where it cannot be sold by the mass of shareholders.. Also, for the company to be wound up.
There could be other reasons related to that one - variations on a theme.
Remember, they did not have to do anything. There is a cost to what they have done so there IS a reason.
It will not be long before we know what that reason is - to our profit, or to our cost.
We have always to remember that changes in a company's fortunes are always noted by some long before they reach public domain.
Then there are those who get out when they see the price fall below a certain benchmark they have set themselves.
The fall gathers pace and usually gets overdone by the time the event is made public.
What I am sayng is that most of the negatives, probably even more so, have already been built in to the current price.
I believe it is best to sit tight now, and, providing nothing adverse happens in the industry in general, once the amalgamation goes through, the price should recover.
We must never forget that to work out the relationship to the old price it would have been had it remained Bema we will have to divide Newco's shares by a factor of 10.
If it doesn't get a US listing, then that would be a negative.
I have written to the company to ask if that is likely. I should get an answer next week. However, if you live in the US
you could perhaps phone them - they often have a freephone number for investor relations. I am in London and the freephone doesn't work from here.
Cheers
In that example I quoted of a F/S while the pps was just a few cents - VGZ their reason for so doing was that they anticipated at the time that the gold price was about to take off. They felt their company had what it takes to justify a move with the POG and they wanted to attract more serious, investors who would not touch penny shares.
Even at a low of around .10 it could have still been knocked down by shorts had the gamble not paid off.
That could have happened to GWGO if say the Ask had been even as high as .0004 and the bid .0003. As soon as the ex dividend date arrived the shares would have dropped to .0001. if you could sell them. Why? Why not .0002? Because you would have had two things at work.
(1) the price adjustment - halving,
(2) The brokers dropping the price to deter and take advantage of the heavy selling that would come from profit takers.
You could also have had, possibly, a (3) from more shorts who would have got in before the masses if any buyers at over .0001.
What many forget is that though we are only dealing in fractions of a cent, the percentage between the bid and ask at .0001 and .0002 is very high. It is the equivalent of in Google the bid being say $230 and the ask %460.
How many Google shares would trade if that were so?
In fact, when you have market makers, as in the OTC, the MM in times of heavy selling will widen the distance between the bid and ask to deter selling
The reason they say it here is, simply, that the company have viewed this as a dividend. The word is used in their PR disclosure.
It is explained in their 'rational' for, unusually, actually issuing a Forward split at this absolute rock bottom, pps.
Normally F/S are issued when the share price is growing to a point where it deters ' psychologically' for some strange reason
small 'investors' from buying. They like to buy in large amounts.
Naturally, on ex-divi date, the pps adjusts to the split. But, if it goes according to plan, the pps takes off again — at least for some time. This gives the holders before the split a form of 'dividend' by their increased share holding increasing in pps. But this happens only if the pps increases.
A reverse split usually has the opposite effect, as the reasons which had caused the company's shares to be so low are usually still there, and it brings in the short sellers again forcing the price down.
There are always exceptions like, for instance VGZ. They had a reverse split of one for 20 when they were selling at about ten cents. They are now over $8.00. This makes the equivalent price before the split at .40+ cents. But generally, the pps falls.
Back to GWGO. Why it is viewed by the company as a 'dividend'
is that they view their share price is undervalued. It is at rock bottom so it cannot fall any lower.
If as the company indicate, and as you say Vagabond, and some others feel, the company is soon to start releasing some good PR's updating their website, and behaving like a professional company to move up from 'pink sheets' then the pps should move,
and can only move, in one direction - UP.
That would give current buyers at the price of .0001 and who qualified for the split - a PROFIT.
Consequently this F/S is a form of 'dividend' in this particular case.
Dividend; Forward Split; profit? A rose by any other name would smell as sweet.
I know, you Vagabond, already know most of this, I have included it for those who are new to the game. I am just saying, to yourself and a couple of others who tackled me on the 'dividend' why it has been used - in particular by the company. It explains why they issued a forward split, when most other companies tend to do the dirty on their shareholders by issuing a reverse split. It explains why the company keep saying they are NOT contemplating a 'reverse split'.
It all rests now with whether the company do keep faith to their new Presidents e-mail to shareholders. We can only watch and wait.
But there will be no QEE or YGC after the joining. The new company will be NEWCO and there will be a new symbol for that company. I am surprised they did not mention the listing as this is most important.
Why are we going around in circles here? Did I not say IT WAS NOT DIVIDED! I was correcting the poster 'Loneharanger'
You say:-
"You "will" have any existing shares in your account, divided into two new shares."
If you 'divide' a share (or anything), then the two parts individually would be less than the whole. What is happening is that instead of one share, you will have two 'electronically' added in your account, where before you had one.
I read your post very well. However you did not read mine correctly. I was pointing out that no one expected a company to load trucks with its shares and run around dropping them off at brokers offices. THIS IS 2007
So why mention it?
As for what we are getting it was made quite clear. It is a forward split
Please note the word ELECTRONICALLY!
This Stock Dividend will be electronically credited to stockholders brokerage accounts
shortly after the “Record Date”, being February 13, 2007.
Those stockholders who are not holding their stockholding with their Brokers or hold restricted shares of the
Company’s Common Stock, will receive their Stock Dividends in certificated form, to be held by “on book” by the Company’s Transfer Agent.
The rationale for this Forward Split of the Company’s Stock is that the stock price
could not be trading at a lower price than it is at this time, and this action will
effectively result in a 100% increase in stockholder value, as from February 8, 2007.
What do you mean - 'If the stocks are there they will be double counted'.
And companies don't load trucks with certificates, this is 2007.
I haven't seen a stock certificate for years
In one breath you say no one is getting the shares, then you say if they are there.
It is all done by electronic transfer. All you need are the shares you bought at the market recently or have been holding for some time. Failure to deliver by one means or another those shares is a criminal offence.
The dividend shares is one matter. That is an offence by the company. But the existing traded shares is another matter
and that lies with the Market Makers.
Will this Newco be traded on the US NY market as is Queenstake?
YGC is not.
You are going to have to live with these shares a long time (if the company stays in business)
For some time BEFORE this split was announced you could not sell at .0001. For some time they didn't even quote a bid.
There has nothing happened to increase the value of this company - on the contrary, just the opposite. And we now will have over six billion shares slushing around - most waiting to get out at a profit - many just to break even.
It now rests with the feint hope that they will come up with
something tangible (not talk) that shows there is some life in the 'old dog'.
Or, Gold rockets up sufficient to capture the imagination of
the masses that makes dramatic news to move all the mines higher. Then the lame dogs might struggle to get off their haunches as they see the greyounds run. It's the old 'pack' instinct.
Think: If this company had been worth more than the .0001 why would they have not bought back their own shares?
For what it is worth, I do believe Gold is setting itself up for a rise - may take two to three months. I believe that is where our hope is.
'Pennies': You will not be able to sell any 'dividend' stock until it is 'settled' in your brokerage account. It is different when your broker has purchased stock for you - you can sell it immediately via the same broker.
When you are in a position to sell your dividend shares, the price will already have been adjusted to reflect the split. Which, at present means you won't be able to sell them as there will be no takers at .0001 and you can't put a sell order in for less.
But for your 'entitlement' to dividends, then follow the postings of the written brokerage advice from Ameritrade (someone posted) or the SEC I posted which details the same.
Pennies From H......Did you read the foot of that SEC rules I
posted?
It reads:-
HOWEVER
Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares.
Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.
If you have questions about specific dividends, you should consult with your financial advisor. You can also get information by going to your library and reading Standard and Poor's Dividend Record Binder.
http://www.sec.gov/answers/dividen.htm '
Just saw your post. Yours is in writing, and from the same broker I use. That is clear enough.
You can make your broker re-imburse you for any loss you incur through his actions, or advice. An earlier broker reimbursed me for failing to act on an instruction I gave him.
Did your broker put what he told you in writing? I will bet that he didn't. It was probably in a phone conversation - right?
This company has a long way to go to be even considered back on the OTCBB. Be realistic. It couldn't be run much worse if George Bush was running it - AND THAT IS SAYING SOMETHING.
Come to think of it
When the mighty US president looks you in the eye and lies through his teeth, and sends thousands of innocents to their death along with three thousand (and rising) of hs own young men, what can we expect from a pink sheet president of a two-bit gold mining company.